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President Ramaphosa is meeting with Chancellor Merkel. What’s in it for Germany?

6 February 2020 1:22 PM
Tags:
Brexit
Angela Merkel
Germany
Cyril Ramaphosa
Trade
Institute of Race Relations
UK
Clement Manyathela
IRR
Germany - the 4th largest economy in the world - has much to gain from the meeting at the Union Buildings in Pretoria.

President Cyril Ramaphosa and German Chancellor Angela Merkel are meeting at the Union Buildings in Pretoria.

Trade between South Africa and Germany totalled R235 billion in the year to 30 November 2019.

Germany is the third-largest source (after the US and UK) of non-African tourists to South Africa.

President Cyril Ramaphosa and German Chancellor Angela Merkel having tête-à-tête on 6 February 2020 ahead of the official talks between the two leaders at the Union Buildings in Tshwane. Picture: @PresidencyZA/Twitter

South Africa is our most important economic partner in Africa. South Africa is on a course of economic reform. The visit’s goals include the support of the reform course of the Ramaphosa government, as well as the further intensification of our economic relations.

Steffen Seibert, spokesperson - German government

South Africa is by far our most important economic partner on the African continent. More than 600 German companies are active in South Africa, creating jobs, providing training and contributing to transformation… There is a lot of interest from and expectations in Germany in President Ramaphosa’s economic reform drive…

Martin Schaefer, Germany's ambassador to South Africa

Clement Manyathela interviewed Ian Cruickshanks, Chief Economist at the Institute of Race Relations (IRR).

It’s all about Germany and making sure that they take over some of what the UK may be losing moving away from the EU… An opportunity for the Germans to step in…

Ian Cruickshanks, Chief Economist - Institute of Race Relations

Last year, Germany’s share of foreign direct investment in South Africa was 4.5% - the UK’s was 29.5%! ... There’s a great opportunity for us if we can take it… let’s get them here with their capital and knowledge…

Ian Cruickshanks, Chief Economist - Institute of Race Relations

What’s in it for Germany? A foothold in the most industrialised economy in Africa… We’ve got access to Africa to offer to them…

Ian Cruickshanks, Chief Economist - Institute of Race Relations

For more detail, listen to the interview in the audio below.

Watch Ramaphosa and Merkel's brief to the media below:

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6 February 2020 1:22 PM
Tags:
Brexit
Angela Merkel
Germany
Cyril Ramaphosa
Trade
Institute of Race Relations
UK
Clement Manyathela
IRR

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